Counterfeit TPG Graded As Authentic

Last week at the weekly Heritage auction, I purchased a Fractional Currency 2nd Issue $.50 Fr. 1317. I was happy to buy it, receive it, admire it.....and scan it...

As I was scanning the note, something didn't look right about George Washington. It looked as if he had a face make over. I took a closer look at the fonts, mumbled a few expletives and was convinced, it was a counterfeit.

What makes this interesting is that the note was certified by PMG as Choice AU58 EPQ. A nice grade in my opinion, that I was thinking saved me hundreds. The note is so well centered, but you take a look at what I saw


Portraits of George Washington. Notice the shape of the face. That was the first indication.

real



fake




The next sequence of scans are from the upper right side of the Obverse.

real



fake



Look at:

the "States" ,
then on the left side, the scroll work,
then the beading around the "50".

The engraved lines in general are not sharp as they should be. Second the engraved fonts do not have the same balance of white and black areas.
Other parts of the note showed similar differences. ie the Locomotive, cargo and mule.

I did not even try to do an analysis on the reverse

Since this PMG Graded.....this is a perfect case of "buy the note and not the holder" It stumped, PMG, Heritage and at first me, but then In my due diligence, I found it. And have been receiving some nice offers for it. Sorry I am keeping it!

Jeff


Here are pictures of the note.....hey its got an EPQ designation too!



Real Fr.1317



Counterfeit Fr. 1317